Wynn Resorts Reveals Name and Design of $3.9bn UAE Integrated Resort

Wynn Resorts Reveals Name and Design of $3.9bn UAE Integrated Resort May 2, 2023 May 2, 2023 Paul Butcher
 General May 2, 2023 by Paul Butcher

Proposed Wynn Al Marjan IslandSummary:

  • Wynn’s newest casino resort in the UAE will be named “Wynn Resorts Al Marjan Island”
  • The integrated resort complex is expected to launch in early 2027
  • Wynn will have 40% ownership in the development

Wynn Resorts has unveiled the design of its new multi-billion casino resort project in the United Arab Emirates (UAE) which will be named “Wynn Al Marjan Island”. Rendered images show the development’s overall look, showcasing the magnificent sea views of Al Marjan Island, an artificial island in Ras Al Khaimah where the casino complex will rise.

Wynn Al Marjan Island to Open in 2027

The $3.9 billion project includes 1,500 hotel rooms, suites, and villas, a high-end shopping center, a dining hub, spa and wellness facilities, a theater, a state-of-the-art events center, and other key amenities. Wynn Al Marjan Island will feature UAE’s first casino which will be more than double the size of the gaming venue at Wynn Las Vegas.

Wynn Al Marjan Island will transform UAE into a “major global tourist destination” and will create thousands of jobs, boosting the region’s economy. Furthermore, the integrated resort will drive growth for the allied business sectors, according to Wynn’s press release.

Construction has been ongoing since March, and the integrated resort is expected to open its doors in early 2027, Wynn Resorts CEO Craig Billings stated in the press release. Wynn’s design and development team spent ample time creating the concept for Wynn Al Marjan Island given its unique location, Billings added.

The casino resort is Wynn’s first-ever beachfront resort, developed in partnership with real estate developer Marjan LLC and integrated, hospitality asset owner and manager RAK Hospitality Holding LLC, both of which are based in Ras Al Khaimah.

Wynn Will Own 40% of UAE Casino Resort

John DeCree, an analyst at CBRE Securities, said Wynn Resorts will have 40% ownership in the development, but it will also be receiving license and management fees under a deal similar to most luxury hotel agreements. This means Wynn will still be getting more than 40% of the economics.

The entire development has a total floor area of around 5.6 million sq. ft., with the casino taking up 224,000 sq. ft. or 4% of the gross floor area. DeCree stated that non-gaming revenue contribution for Wynn Al Marjan Island will be essentially the same as Wynn Las Vegas, but its casino should generate “meaningful revenue”.

Details regarding UAE’s casino regulatory framework are not yet available, but Wynn’s management expects that gross gaming revenue (GGR) will be taxed at between 10% and 12%.

Wynn Al Marjan Island is the company’s fifth casino property. It currently operates two casinos in the US, one in Las Vegas and another one in Boston Harbor. In Macau, it also operates two properties through its subsidiary Wynn Macau Ltd.

Paul ButcherAuthor

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